Singapore’s Global Yellow Pages Limited has acquired Adelaide-based ice cream chain Wendys.
Global Yellow Pages’s subsidiary, Global Food Retail Group, has paid A$10 million to acquire the chain.
Stanley Tan, executive director and CEO of Global Yellow Pages, said the company will expand the chain, which has more than 230 stores across Australia and New Zealand.
“We believe there is a significant potential for the brand to grow and expand in Asia, especially China,” said Tan.
Wendys CEO Rob McKay said the Australian and New Zealand operations will not be affected by the acquisition.